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2 minutes read

2 Indian Businessmen Who Have Become Billionaires During Ongoing Pandemic

| Published on June 11, 2020

Coronavirus has had a devastating effect on many lives globally. The effect of the pandemic can be seen with a medical prospect as well as the economic meltdowns. Many companies have run out of business whereas numerous people have been left jobless.

However, in India there are two businessmen who have joined the list of billionaires that too during the ongoing pandemic. These businessmen are Dr. Arvind Lal (head of the famous Dr. Lal Path Labs) and Arun Bharat Ram (Head of Shri Ram Group of Companies).

Arun Bharat Ram

According to Forbes, the shares of Shri Ram Group of Companies have seen an increase of 63% since March 25 bringing the company’s net worth to a whopping $ 1.1 billion. Arun Bharat Ram is part of the board of 14 companies and heads 6 different companies. One of these companies is JK Paper Limited.

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Established in 1970, Shri Ram Group of Companies manufactures chemicals that can be used to prepare medicines and pesticides. Apart from this, the group also deals with fabric, real estate, and other businesses. Not only this, but this group also runs Lady Shri Ram College and Shri Ram Schools in Delhi. In fact, Shree Ram Group of Companies has also benefited due to the boom in the stocks of chemical manufacturing companies across the country.

Arvind Lal

According to the Forbes list, Arvind Lal‘s wealth currently is more than one billion dollars. Dr. Path Labs was founded in 1949 by SK Lal, father of Arvind Lal’s father. Arvind Lal has been handling this business of his father since the age of 28 years. Dr. Path Labs’ IPO was first launched in 2015 and since then it has grown by 79%.

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<p>Apart from him, the valuation of Dr. Arvind Lal’s company, Dr. Lal Path Labs has reached $ 174 million. The stock has gained 14% during the period from March 30 to June 14. In fact, after getting permission from private labs to test the coronavirus, shares of Dr. Path Labs have seen a surge.</p>
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